Items Tagged with 'Ken Jones'

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First Guaranty Mortgage Corp. added two new people to its leadership team, naming Doug Harris and Ken Jones as senior vice president of risk management and senior vice president of mortgage banking and warehouse lending, respectively.

Triad Guaranty [stock TGIC][/stock], the mortgage insurer, reported a $359.4m net loss for Q209, compared to a net loss of $55.2m for Q109.
Ken Jones, CEO of Triad, points to a decline in cure rates on default loans and severe settled losses that swelled Triad’s loss reserves for the second quarter, according to the report.

Mortgage insurer Triad Guaranty [stock TGIC][/stock] lost a net $55.2m -- or $3.68 per share -- in Q109, narrowed from the $122.2m in the previous quarter.
The trend might not continue in the face of a growing number of mortgage defaults, however, despite the new limit on payable claims in the insured portfolio--which helps Triad stretch capital further but hurts servicers that now will only receive back a fraction of claims filed.

Imagine paying full premium for an insurance contract, and receiving only 60 percent on any claim you make -- that's the unsavory situation now being faced by both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock], as well as a bevy of private-market lenders, on their mortgage insurance contracts with troubled mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock].

Mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock], who put its portfolio into run-off in July after ratings downgrades, said Monday evening that it lost $160.1 million during the third quarter, or $10.69 per share. The loss came amid rising delinquencies and increasing paid claims on mortgages the company had insured; net paid claims rose sharply to $59.4 million in Q3, Triad said, versus $28.5 million one year earlier.

This month inHousingWire magazine

President Donald Trump appointed Calabria to take the helm of the FHFA on December 12, 2018. The Senate then officially confirmed Calabria in April by a vote of 52 to 44 as head of the agency. Since then, Calabria has not been silent on his plan to reform the FHFA and the entities it oversees – Fannie Mae and Freddie Mac.